Someone's Got a Crush on Professional Services Providers But It Ain't the General Counsel: Big Law and the Fight to Stay Attractive | The Recorder – Law.com

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COMMENTARY
Your client’s CFO and GC work together. They compare notes. They may be whispering about you. Make sure the gossip is good.
October 25, 2021 at 04:19 PM
7 minute read
Legal Services
Unimagined supply chain challenges, scarce human resources and worrisome fallout from the inflation squeeze have corporate chief financial officers feeling vulnerable. When people feel vulnerable they look for comfort and support. Thankfully, for global CFOs, they can get the love they seek through sophisticated advisory services provided by the Big Four accounting firms. Be it support in auditing, cost segregation studies, internal controls, tax strategies, or transfer pricing and other needed services, quick responses and forward-looking strategies via a vast network of experts situated across the globe are theirs for the asking. Many a CFO and audit committee are batting their eyes fondly at this broad mix of providers ready to answer questions and solve problems, all at an agreed upon fixed fee.
While the Big Four may be getting sweet notes in their locker about the upcoming prom and what to wear to the big dance, global law firms are sitting by the phone, making doodles around their firms’ logos and listing their wonderful credentials over and over and over again, dreaming that the general counsel of their favorite corporation will see how cute and smart they are and maybe call them tonight, tomorrow, or surely by the weekend. After all, the GC and the gang in legal operations have always called before. Everybody who is anybody has always known that the law firm is totally GOAT. Besides, they have to call because only the law firm can offer certain legal services that the corporation can’t get anywhere else. And anyway, other service providers are really busy right now so they’ll have to settle on the law firm. Right?

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